Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Coupa Software (NASDAQ:COUP) by 67.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,500 shares of the technology company’s stock after buying an additional 13,900 shares during the period. Sumitomo Mitsui Asset Management Company LTD owned about 0.07% of Coupa Software worth $999,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Sylebra HK Co Ltd acquired a new position in shares of Coupa Software during the first quarter valued at about $28,720,000. Janus Capital Management LLC acquired a new position in shares of Coupa Software during the first quarter valued at about $12,160,000. Morgan Stanley increased its position in shares of Coupa Software by 36.9% in the first quarter. Morgan Stanley now owns 686,277 shares of the technology company’s stock valued at $17,431,000 after buying an additional 184,865 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Coupa Software by 27.5% in the first quarter. Vanguard Group Inc. now owns 749,441 shares of the technology company’s stock valued at $19,035,000 after buying an additional 161,830 shares during the last quarter. Finally, State Street Corp acquired a new position in shares of Coupa Software during the fourth quarter valued at about $2,224,000. Hedge funds and other institutional investors own 52.78% of the company’s stock.
Shares of Coupa Software (COUP) opened at 30.78 on Friday. The stock’s 50 day moving average price is $30.42 and its 200-day moving average price is $28.51. The company’s market cap is $1.63 billion. Coupa Software has a 52-week low of $22.50 and a 52-week high of $41.61.
Coupa Software (NASDAQ:COUP) last announced its quarterly earnings results on Monday, June 5th. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. The firm had revenue of $41.10 million during the quarter, compared to the consensus estimate of $38.33 million. During the same quarter in the previous year, the company posted ($1.76) earnings per share. The firm’s revenue was up 40.8% on a year-over-year basis. Equities analysts expect that Coupa Software will post ($0.51) EPS for the current year.
COUP has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Coupa Software from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, June 1st. Zacks Investment Research upgraded Coupa Software from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. JMP Securities restated an “outperform” rating and set a $40.00 target price (up previously from $32.00) on shares of Coupa Software in a research report on Tuesday, June 6th. Morgan Stanley restated an “equal weight” rating and set a $31.00 target price (up previously from $29.00) on shares of Coupa Software in a research report on Saturday, June 3rd. Finally, Raymond James Financial, Inc. restated an “outperform” rating and set a $40.00 target price (up previously from $34.00) on shares of Coupa Software in a research report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Coupa Software currently has an average rating of “Hold” and a consensus price target of $33.90.
In other news, CEO Robert Bernshteyn sold 63,225 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $30.49, for a total value of $1,927,730.25. Following the completion of the transaction, the chief executive officer now directly owns 387,239 shares in the company, valued at approximately $11,806,917.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravi Thakur sold 11,240 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $35.13, for a total value of $394,861.20. Following the completion of the transaction, the insider now owns 79,061 shares of the company’s stock, valued at $2,777,412.93. The disclosure for this sale can be found here. Insiders sold a total of 1,776,719 shares of company stock valued at $55,474,606 over the last quarter. 32.10% of the stock is owned by corporate insiders.
About Coupa Software
Coupa Software Incorporated is a United States-based company, which provides a unified, cloud-based spend management platform that connects organizations with suppliers globally. The Company offers spend management cloud applications, which are pre-integrated. The platform offers consumerized financial applications.
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